Get 40% Off
⚠ Earnings Alert! Which stocks are poised to surge?
See the stocks on our ProPicks radar. These strategies gained 19.7% year-to-date.
Unlock full list

French protests have also taken a toll on online retailers: Fevad

Published 12/13/2018, 09:02 AM
Updated 12/13/2018, 09:05 AM
© Reuters. A yellow vest flutters in the sky at a roundabout near the Nantes Atlantique Airport as the "yellow vests" movement continues, in Bouguenais

By Dominique Vidalon

PARIS (Reuters) - Four weeks of anti-government protests that have hit French brick-and-mortar retailers are also taking their toll on online peers during the crucial Christmas shopping season, said the country's Fevad E-Commerce Federation.

Online retailers were expected to have benefited from disruption to major shopping areas due to the protests.

However, a Fevad survey of its members over the first nine days of December showed online sales were flat on a year-on-year basis during the period.

"It seems there is no carry-over effect for online retailers. The feedback we get is that it's very quiet, it's flat. It's not the growth that was expected," a Fevad spokeswoman told Reuters.

"There is a psychological impact from the events and the next 10 ten days will be crucial," she added.

In early November - before the protests started - Fevad had predicted that the French would spend 19 billion euros ($22 billion) on online purchases over Christmas and the Black Friday to Cyber Monday sales days in November.

That in turn ought to have lifted total online retail sales to over 90 billion euros for 2018, added Fevad at the time.

When asked to discuss its performance, Amazon (O:AMZN) - which is France's largest online retailer - said: "As usual, year-end festivities are a time of strong activity."

French retailers have lost at least 1 billion euros in revenue since the protests began around a month ago, the FCD retail federation has said.

Unlisted retailer Auchan [AUCH.UL] told Reuters this week it lost 100 million euros in revenue as 60 of its 120 hypermarkets had experienced disruptions due to the protests.

French Finance Minister Bruno Le Maire has also forecast that the protests would trim 0.1 percent of a point off national output.

Some demonstrators are calling for a fifth Saturday of protests.

© Reuters. A yellow vest flutters in the sky at a roundabout near the Nantes Atlantique Airport as the "yellow vests" movement continues, in Bouguenais

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.